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NEWS TODAY
Greenidge Generation Announces Sale of South Carolina Property to Data Journey for $12.1 Million and 8% Stake in Planned Data Center’s Profits
Greenidge Generation Holdings (NASDAQ: GREE) has announced the sale of its 152-acre Spartanburg, South Carolina property to Data Journey for $12.1 million in cash plus an 8% profit participation interest in the planned data center. The property, initially purchased by Greenidge in 2021 for $15 million, includes access to 60 MW of secured power.
This transaction marks Greenidge's first major entry into the data center space. After the sale closes, Greenidge will support Data Journey in site development. The property has potential for expansion up to 100MW with proprietary onsite power generation. Data Journey currently operates facilities in North Carolina and Texas, with plans to expand to six new sites in 2025.
The deal follows Greenidge's earlier sale of 23 acres and 44 MW mining facilities to NYDIG for approximately $28 million in 2023. The transaction is expected to close in Q1 2025.
Greenidge Generation Holdings (NASDAQ: GREE) has announced the sale of its 152-acre Spartanburg, South Carolina property to Data Journey for $12.1 million in cash plus an 8% profit participation interest in the planned data center. The property, initially purchased by Greenidge in 2021 for $15 million, includes access to 60 MW of secured power.
This transaction marks Greenidge's first major entry into the data center space. After the sale closes, Greenidge will support Data Journey in site development. The property has potential for expansion up to 100MW with proprietary onsite power generation. Data Journey currently operates facilities in North Carolina and Texas, with plans to expand to six new sites in 2025.
The deal follows Greenidge's earlier sale of 23 acres and 44 MW mining facilities to NYDIG for approximately $28 million in 2023. The transaction is expected to close in Q1 2025.
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